A token powered by Ripple Labs XRPhas captured the attention of crypto market fans globally following a significant whale transfer to Binance, the world’s leading cryptocurrency exchange.
According to data, an unknown wallet address shifted approximately 26 million XRP to Binance on February 9. The massive transfer to Binance fueled further implications for the Ripple-backed token as it emerged on the market amid XRP’s price surge.
Meanwhile, XRP Whale, a famous crypto market analyst, has garnered significant attention in the market by depicting bullish sentiments on the token. The analyst notes that XRP will go to the moon soon and conveys bullish sentiments regarding an imminent price rally.
26 Million XRP in Motion
According to data released by blockchain tracking platform Whale Alert, 25.82 million XRP worth $13.52 million was shifted to Binance by an unknown wallet rPz2qA93Pe…ycJR1N4iNf. As the massive sell-off contrasts with XRP’s price jump witnessed today crypto- The market attracted attention from fans. Despite the significant increase in token supply as a result of the whale sale, XRP’s price chart showed an upward movement as of press time. This seems to have sparked great curiosity among crypto market traders and investors and led to bullish sentiments for the token.
Meanwhile, options data for the Ripple-backed token reflected the rise in its value and pointed to an uptrend as investors’ confidence in the underlying price trend remains strong. Although marginal, open interest witnessed a slight increase of 0.01%, while option open interest recorded a rise of 15.02%.
XRP Price Rising
Koinfinans.com As we reported, at the time of writing this news, the XRP price chart showed a 1.50% jump in the last 24 hours. It is currently trading at $0.5247. The token appears to have gained significant traction amid its recent rally, breaking through the $0.52 level yesterday.
Meanwhile, amid market uncertainties, the Ripple-backed token has launched a comeback, keeping its price above the crucial $0.5 support level. This momentum appears to have fueled speculation on the potential start of a recovery trend for XRP.
Interestingly, another prominent analyst, Dark Defender, recently claimed that XRP will reach $1.88, in line with current market dynamics. Crypto market enthusiasts appear to be monitoring the token extensively as its price action and market dynamics reflect an imminent bull run.
